For the Arizona guys. Every month TPT time comes around and I go through Quicknooks and enter amounts on an excel sheet.
Has anyone been able to get Quicknooks to generate an accurate report?
Do you have each county, city, other tax jurisdiction set up as separate sales tax items? If so your reports can be sorted to display each separately or combined.We have to collect sales tax so each month do a report breaking it down to county, city, county/city.
There is nothing in the QB help that is straightforward. :happysad:Look into the help menu in Quickbooks it tells you pretty straightforward how to do this.
I just pay the sales tax when I buy the material. A whole lot simpler.
Did you set this "adjustment" up as a sales tax item? I have tax collection credit also but don't have that issue. You make the adjustment as a credit at the time you are paying your sales taxes. If you set it up as a sales tax item, it would show up on every invoice or sales transaction.I agree with you kwired and also have it setup as you say but I find sales tax to be one of the most disfunctional things about Quickbooks. For instance here in NY we get a tax collection credit that comes off the tax we collect. I have the "adjustment" in QB go to a sales tax adjustment account that is income. God knows what QB does with it as it seems to go back to all invoices and change the tax rate. I just want it to be credited to the sales tax adjustment account as regular income and leave everything else alone.
There is nothing in the QB help that is straightforward. :happysad:
-Hal
That's not what he and I are talking about. I do pay tax when I buy material. But in this state at least we have to collect sales tax from the customer on service and repair work and send it to the state quarterly. If you don't you get in BIG trouble.
I hope you aren't one of those who doesn't understand the sales tax laws of the states you do work in.
-Hal
Sorry, I've never heard of that kind of tax. Another reason this country needs tax reform. What a travesty.
Did you set this "adjustment" up as a sales tax item? I have tax collection credit also but don't have that issue. You make the adjustment as a credit at the time you are paying your sales taxes. If you set it up as a sales tax item, it would show up on every invoice or sales transaction.
Sorry, I've never heard of that kind of tax. Another reason this country needs tax reform. What a travesty.
Yes and that's exactly what I don't want it to do. They are paying you to collect the tax so it's income in the form of a credit. The tax on your sales shouldn't change. Wish QB would figure that out.
It doesn't automatically take your credit for you, you have to file your tax return, and make a manual adjustment for the credit. When you make a payment is the easiest time to make the adjustment, as they have a place to do so in the payment window, not sure what is in latest editions but I would guess it is still that way or very similar.
Yes, I know! That's exactly what I do.
-Hal